Portland USDA Loan Rates, Closing Costs & Stats

PORTLAND-VANCOUVER-HILLSBORO, OR-WA

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Portland's 18 lenders originated 31 USDA loans during 2023. The total origination value was $11,105,000, with an average USDA loan value of $358,226.

    Portland USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Portland averaged 6.1% for the week of 2024-12-13, compared to the national average (all USDA variants) of 6.303% for the same period.

    Portland's average USDA mortgage closing costs are $8,415.

    The average rate for the prior week (2024-12-06) was 6.44% and one month ago for the week of 2024-11-08, the average rate was 6.56%.

    The average rate one year ago was 6.72%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.45%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Portland USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Portland level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 6 6.42% $12,400
    UNITED WHOLESALE MORTGAGE, LLC 4 5.77% $15,591
    PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.42% $13,999
    MORTGAGE EXPRESS, LLC 2 6.31% $11,151
    CROSSCOUNTRY MORTGAGE, LLC 2 5.84% $10,409
    Loan Simple, Inc. 1 6.63% $10,688
    LPMC, LLC 1 6.13% $14,971
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.63% $6,694
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $19,303
    S1L, Inc. 1 5.75% $11,210
    Sierra Pacific Mortgage Company, Inc. 1 5.50% $10,975
    SUMMIT MORTGAGE CORPORATION 1 6.13% $10,655
    AMERICAN FINANCIAL NETWORK, INC. 1 5.50% $18,655
    U.S. Bank 1 6.25% $10,415
    CMG MORTGAGE, INC. 1 7.50% $9,710
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 7.75% $9,257
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $14,350
    LEADERONE FINANCIAL CORPORATION 1 5.63% $12,025

    The top Portland USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 6 USDA loans originated. Their average total fees are $12,400, which is $3,190 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Portland USDA lenders (with over 10 loans originated) are .

    The lowest rate Portland USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $476,538 (4.2%) $624,738 (3.7%) 1.77 4,642
    2018-02-01 $482,475 (2.1%) $639,191 (4.1%) 1.75 4,444
    2018-03-01 $495,000 (3.0%) $639,960 (2.1%) 1.74 4,759
    2018-04-01 $499,000 (2.9%) $638,700 (1.7%) 1.69 5,380
    2018-05-01 $499,700 (2.0%) $639,825 (1.6%) 1.67 6,268
    2018-06-01 $495,945 (1.6%) $629,965 (1.6%) 1.65 7,129
    2018-07-01 $484,500 (0.9%) $616,379 (1.5%) 1.62 8,101
    2018-08-01 $479,000 (0.8%) $604,146 (0.9%) 1.60 8,623
    2018-09-01 $472,000 (0.6%) $593,493 (0.3%) 1.59 8,950
    2018-10-01 $469,900 (0.1%) $590,304 (-0.3%) 1.59 8,693
    2018-11-01 $469,900 (0.0%) $593,258 (-1.0%) 1.59 8,070
    2018-12-01 $469,900 (-1.1%) $601,163 (-2.1%) 1.62 6,944
    2019-01-01 $473,044 (-0.7%) $603,633 (-3.4%) 1.63 6,164
    2019-02-01 $477,949 (-0.9%) $611,933 (-4.3%) 1.61 6,019
    2019-03-01 $480,657 (-2.9%) $611,249 (-4.5%) 1.57 6,278
    2019-04-01 $475,720 (-4.7%) $604,133 (-5.4%) 1.51 6,832
    2019-05-01 $478,950 (-4.2%) $604,692 (-5.5%) 1.50 7,392
    2019-06-01 $479,000 (-3.4%) $601,300 (-4.6%) 1.50 8,307
    2019-07-01 $474,950 (-2.0%) $598,894 (-2.8%) 1.49 8,601
    2019-08-01 $473,291 (-1.2%) $598,581 (-0.9%) 1.50 8,498
    2019-09-01 $470,877 (-0.2%) $597,153 (0.6%) 1.51 8,255
    2019-10-01 $465,350 (-1.0%) $590,927 (0.1%) 1.50 7,952
    2019-11-01 $463,980 (-1.3%) $593,276 (0.0%) 1.52 6,942
    2019-12-01 $466,500 (-0.7%) $597,951 (-0.5%) 1.56 5,651
    2020-01-01 $472,170 (-0.2%) $609,994 (1.1%) 1.58 4,866
    2020-02-01 $479,000 (0.2%) $616,550 (0.8%) 1.57 4,427
    2020-03-01 $479,450 (-0.3%) $621,009 (1.6%) 1.50 4,816
    2020-04-01 $475,725 (0.0%) $607,767 (0.6%) 1.49 5,676
    2020-05-01 $488,500 (2.0%) $617,166 (2.1%) 1.48 5,748
    2020-06-01 $499,000 (4.2%) $631,032 (4.9%) 1.47 5,376
    2020-07-01 $499,900 (5.3%) $642,495 (7.3%) 1.45 5,134
    2020-08-01 $499,960 (5.6%) $650,939 (8.8%) 1.43 5,056
    2020-09-01 $499,980 (6.2%) $654,864 (9.7%) 1.43 4,745
    2020-10-01 $510,000 (9.6%) $661,247 (11.9%) 1.46 4,499
    2020-11-01 $512,500 (10.5%) $669,846 (12.9%) 1.50 3,848
    2020-12-01 $507,500 (8.8%) $674,314 (12.8%) 1.51 2,958
    2021-01-01 $499,900 (5.9%) $682,776 (11.9%) 1.49 2,486
    2021-02-01 $502,880 (5.0%) $691,012 (12.1%) 1.46 2,244
    2021-03-01 $511,875 (6.8%) $684,314 (10.2%) 1.45 2,403
    2021-04-01 $525,000 (10.4%) $693,193 (14.1%) 1.42 2,637
    2021-05-01 $549,900 (12.6%) $717,025 (16.2%) 1.46 2,848
    2021-06-01 $554,950 (11.2%) $726,786 (15.2%) 1.46 3,337
    2021-07-01 $555,000 (11.0%) $731,698 (13.9%) 1.46 3,758
    2021-08-01 $550,000 (10.0%) $722,960 (11.1%) 1.47 3,852
    2021-09-01 $550,000 (10.0%) $724,111 (10.6%) 1.47 3,995
    2021-10-01 $550,000 (7.8%) $721,293 (9.1%) 1.47 3,908
    2021-11-01 $550,000 (7.3%) $725,117 (8.3%) 1.47 3,127
    2021-12-01 $549,250 (8.2%) $728,293 (8.0%) 1.49 2,376
    2022-01-01 $550,000 (10.0%) $739,209 (8.3%) 1.49 1,835
    2022-02-01 $561,950 (11.8%) $737,166 (6.7%) 1.46 1,923
    2022-03-01 $573,950 (12.1%) $737,757 (7.8%) 1.44 2,142
    2022-04-01 $585,000 (11.4%) $754,828 (8.9%) 1.39 2,343
    2022-05-01 $597,450 (8.7%) $760,144 (6.0%) 1.37 3,414
    2022-06-01 $599,995 (8.1%) $762,564 (4.9%) 1.34 4,391
    2022-07-01 $599,000 (7.9%) $754,182 (3.1%) 1.35 5,649
    2022-08-01 $590,500 (7.4%) $746,184 (3.2%) 1.37 5,810
    2022-09-01 $589,900 (7.3%) $761,963 (5.2%) 1.38 5,839
    2022-10-01 $579,900 (5.4%) $760,826 (5.5%) 1.36 5,852
    2022-11-01 $582,478 (5.9%) $769,365 (6.1%) 1.40 5,511
    2022-12-01 $589,900 (7.4%) $779,861 (7.1%) 1.46 4,556
    2023-01-01 $597,450 (8.6%) $793,439 (7.3%) 1.48 3,810
    2023-02-01 $607,050 (8.0%) $812,754 (10.3%) 1.47 3,391
    2023-03-01 $614,896 (7.1%) $825,588 (11.9%) 1.45 3,384
    2023-04-01 $629,000 (7.5%) $834,101 (10.5%) 1.46 3,543
    2023-05-01 $639,687 (7.1%) $829,802 (9.2%) 1.45 4,148
    2023-06-01 $640,000 (6.7%) $824,741 (8.2%) 1.44 4,745
    2023-07-01 $639,900 (6.8%) $826,915 (9.6%) 1.45 5,311
    2023-08-01 $637,725 (8.0%) $826,434 (10.8%) 1.46 5,503
    2023-09-01 $625,000 (6.0%) $811,158 (6.5%) 1.46 5,656
    2023-10-01 $619,995 (6.9%) $806,580 (6.0%) 1.46 5,748
    2023-11-01 $603,725 (3.7%) $795,828 (3.4%) 1.44 5,587
    2023-12-01 $600,000 (1.7%) $799,713 (2.6%) 1.46 4,897
    2024-01-01 $603,772 (1.1%) $804,123 (1.4%) 1.47 4,261
    2024-02-01 $600,000 (-1.2%) $802,232 (-1.3%) 1.44 4,106
    2024-03-01 $605,000 (-1.6%) $806,258 (-2.3%) 1.42 4,288
    2024-04-01 $615,000 (-2.2%) $811,500 (-2.7%) 1.43 4,871
    2024-05-01 $625,000 (-2.3%) $830,141 (0.0%) 1.41 5,684
    2024-06-01 $625,000 (-2.3%) $824,483 (0.0%) 1.40 6,384
    2024-07-01 $617,497 (-3.5%) $803,217 (-2.9%) 1.41 6,898
    2024-08-01 $615,000 (-3.6%) $794,214 (-3.9%) 1.43 7,085
    2024-09-01 $604,890 (-3.2%) $788,538 (-2.8%) 1.42 7,233
    2024-10-01 $602,375 (-2.8%) $781,657 (-3.1%) 1.42 7,074
    2024-11-01 $599,900 (-0.6%) $777,502 (-2.3%) 1.44 6,504
    Portland's median listing price for 2024-11-01 was $599,900, a difference of $-3,825 (-0.6%) versus the prior year and $-2,475 versus the prior month.

    Portland's median listing price comes in at 144% of the national average.

    Portland's average listing price for 2024-11-01 was $777,502, a difference of $-18,326 (-2.3%) versus the prior year and $-4,155 versus the prior month.

    For the 2024-11-01 period, Portland had 6,504 MLS listings, a difference of -570 listings (-8%) versus the prior month and 917 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 62 days 2,269 sqft
    2018-02-01 42 days 2,276 sqft
    2018-03-01 34 days 2,273 sqft
    2018-04-01 30 days 2,278 sqft
    2018-05-01 30 days 2,279 sqft
    2018-06-01 32 days 2,250 sqft
    2018-07-01 37 days 2,219 sqft
    2018-08-01 38 days 2,190 sqft
    2018-09-01 44 days 2,159 sqft
    2018-10-01 49 days 2,145 sqft
    2018-11-01 56 days 2,150 sqft
    2018-12-01 67 days 2,144 sqft
    2019-01-01 69 days 2,139 sqft
    2019-02-01 47 days 2,156 sqft
    2019-03-01 39 days 2,146 sqft
    2019-04-01 35 days 2,133 sqft
    2019-05-01 32 days 2,141 sqft
    2019-06-01 36 days 2,159 sqft
    2019-07-01 39 days 2,151 sqft
    2019-08-01 43 days 2,137 sqft
    2019-09-01 47 days 2,131 sqft
    2019-10-01 50 days 2,113 sqft
    2019-11-01 61 days 2,100 sqft
    2019-12-01 74 days 2,098 sqft
    2020-01-01 74 days 2,113 sqft
    2020-02-01 55 days 2,112 sqft
    2020-03-01 42 days 2,096 sqft
    2020-04-01 43 days 2,097 sqft
    2020-05-01 53 days 2,107 sqft
    2020-06-01 50 days 2,121 sqft
    2020-07-01 43 days 2,107 sqft
    2020-08-01 42 days 2,102 sqft
    2020-09-01 49 days 2,080 sqft
    2020-10-01 57 days 2,056 sqft
    2020-11-01 62 days 2,048 sqft
    2020-12-01 64 days 2,000 sqft
    2021-01-01 51 days 1,942 sqft
    2021-02-01 37 days 1,881 sqft
    2021-03-01 32 days 1,903 sqft
    2021-04-01 30 days 1,912 sqft
    2021-05-01 30 days 1,947 sqft
    2021-06-01 27 days 1,975 sqft
    2021-07-01 33 days 1,978 sqft
    2021-08-01 37 days 1,965 sqft
    2021-09-01 40 days 1,961 sqft
    2021-10-01 42 days 1,931 sqft
    2021-11-01 51 days 1,908 sqft
    2021-12-01 49 days 1,861 sqft
    2022-01-01 59 days 1,852 sqft
    2022-02-01 28 days 1,832 sqft
    2022-03-01 28 days 1,835 sqft
    2022-04-01 26 days 1,851 sqft
    2022-05-01 23 days 1,929 sqft
    2022-06-01 24 days 1,982 sqft
    2022-07-01 30 days 2,001 sqft
    2022-08-01 37 days 2,002 sqft
    2022-09-01 44 days 1,996 sqft
    2022-10-01 44 days 1,989 sqft
    2022-11-01 51 days 1,995 sqft
    2022-12-01 65 days 2,001 sqft
    2023-01-01 72 days 2,021 sqft
    2023-02-01 53 days 2,039 sqft
    2023-03-01 44 days 2,043 sqft
    2023-04-01 37 days 2,064 sqft
    2023-05-01 34 days 2,088 sqft
    2023-06-01 34 days 2,094 sqft
    2023-07-01 38 days 2,111 sqft
    2023-08-01 41 days 2,112 sqft
    2023-09-01 45 days 2,080 sqft
    2023-10-01 48 days 2,057 sqft
    2023-11-01 54 days 2,024 sqft
    2023-12-01 66 days 2,004 sqft
    2024-01-01 71 days 2,006 sqft
    2024-02-01 55 days 1,998 sqft
    2024-03-01 45 days 1,996 sqft
    2024-04-01 39 days 2,009 sqft
    2024-05-01 36 days 2,027 sqft
    2024-06-01 40 days 2,034 sqft
    2024-07-01 47 days 2,019 sqft
    2024-08-01 51 days 2,014 sqft
    2024-09-01 58 days 2,010 sqft
    2024-10-01 62 days 2,012 sqft
    2024-11-01 67 days 2,005 sqft
    Portland's median listing age (time on market) for 2024-11-01 was 67 days. This is 25% longer than the same period one year ago.

    Portland's median square footage for active listings during the 2024-11-01 period was 2,005 sqft. One year prior, the average listing was 2,024 sqft.